Hi Friends,
I am Raghav and I have bought a property in OMR, chennai.I have opted for sbi maxgain home loan scheme and recently got the loan sanctioned SMS for 22 Lakhs.
Now kindly clarify me on the below queries:
a) Can I be confident that my loan sanctioned sms from sbi shall enable me to collect my loan cheque without any hurdles or delays?
b) what are the list of documents orginals as well as any photocopies that I am supposed to carry to SBI RACPC branch for this process..will they ask me for any processing fees or any other fees from my end during this process??
c) Also kindly if feasible throw some light on max gain scheme…with an example (my understanding goes like: maxgain is an OD : say i have taken loan for 22 lakhs for 240 months – 20 year tenure in my case so at the end of the first fiscal year of my loan tenure if I deposit 1 lakh into my maxgain account then…my question is whether my EMI (involving both principal and interest components) shall be reduced to the new principal loan amount of 21 lakhs now or my loan tenure decreases or let me know how it works..clarify me if my understanding is wrong)
Thanks in advance..Have a nice day..!!!